Insurance Company Financial Analyst Trainee

Full Job Description

Are you looking for an exciting career opportunity? The Pennsylvania Insurance Department (PDA) is on the lookout for an ambitious Financial Analyst Trainee to join our team. In this entry level position, you will have the opportunity to participate in a progressively responsible training program to learn to perform the work of an Insurance Company Financial Analyst. Apply today and make your career goals a reality!

Requirements

The Trainee will learn the basics of the U.S.

Solvency Framework, including the state-based system supported by the National Association of Insurance Commissioners (NAIC) and the risk-focused analysis process, statutory accounting principles and the Department’s laws, regulations, rules, and procedures.

In this role, you will participate in training facilitated by the Insurance Company Financial Analyst Manager, other Insurance Department staff, webinars and courses hosted by the NAIC and other training opportunities made available by the Commonwealth, the Insurance Department and/or outside vendors with industry expertise.

You can expect to assist in the review and analysis of financial, transactional, and operational records, required filings, and other related items, including but not limited to, Continuing Care Retirement Communities’ (CCRC’s) disclosure statements, biographical affidavits, financial examination reports, and business plans.

Additional duties:

• Independently study the Financial Analysis Procedures Manual and various NAIC publications and handbooks
• Gain an understanding of the role of the Financial Analyst engaging with the regulated entity on solvency issues and trigger point for regulatory action/intervention
• Learn the importance of analyzing reported financial results and identifying key financial risks in the ongoing solvency monitoring process
• Become versed in the statutory annual, quarterly, and supplemental filings and gains an understanding of what information is available for the various types of insurers in the statements and supplemental filings

Work Schedule and Additional Information:

• Full-time employment
• Work hours are 8:00 AM to 4:30 PM, Monday - Friday, with 60-minute lunch.

Telework: You may have the opportunity to work from home (telework) part-time, two days per week in office.

In order to telework, you must have a securely configured high-speed internet connection and work from an approved location inside Pennsylvania.

If you are unable to telework, you will have the option to report to the headquarters office in Harrisburg. The ability to telework is subject to change at any time.

Additional details may be provided during the interview.

• Salary: Selected candidates who are new to employment with the Commonwealth of Pennsylvania will begin employment at the starting annual salary of $51,971 (before taxes).
• You will receive further communication regarding this position via email. Check your email, including spam/junk folders, for these notices.

Qualifications

QUALIFICATIONS

Minimum Experience and Training Requirements:

• A bachelor’s degree in insurance, accounting, finance, economics, business administration, risk-management, or a closely related field, which includes 15 college credits in accounting, finance, or auditing; or
• An equivalent combination of experience and training which includes 15 college credits in accounting, finance, or auditing.
• Applicants will be considered to have met the educational requirements once they are within three months of graduating with a qualifying degree.

Other Requirements:

• You must meet the PA residency requirement. For more information on ways to meet PA residency requirements, follow the link and click on Residency.
• You must be able to perform essential job functions.

How to Apply:

Resumes, cover letters, and similar documents will not be reviewed, and the information contained therein will not be considered for the purposes of determining your eligibility for the position.

Information to support your eligibility for the position must be provided on the application (i.e., relevant, detailed experience/education).

This posting requires submission of a copy of your college transcript(s). Unofficial transcripts are acceptable. You may upload your document as an attachment during the application process.

You must still complete the application and answer the supplemental questions. All documents MUST be uploaded prior to the submission of your application.

Your application must be submitted by the posting closing date. Late applications and other required materials will not be accepted.

Failure to comply with the above application requirements may eliminate you from consideration for this position.

Veterans:

• Pennsylvania law (51 Pa. C.S. §7103) provides employment preference for qualified veterans for appointment to many state and local government jobs. To learn more about employment preferences for veterans, go to www.pa.gov/agencies/employment/how-to-apply.html and click on Veterans.

Telecommunications Relay Service (TRS):

• 711 (hearing and speech disabilities or other individuals).

If you are contacted for an interview and need accommodations due to a disability, please discuss your request for accommodations with the interviewer in advance of your interview date.

The Commonwealth is an equal employment opportunity employer and is committed to a diverse workforce.

The Commonwealth values inclusion as we seek to recruit, develop, and retain the most qualified people to serve the citizens of Pennsylvania.

The Commonwealth does not discriminate on the basis of race, color, religious creed, ancestry, union membership, age, gender, sexual orientation, gender identity or expression, national origin, AIDS or HIV status, disability, or any other categories protected by applicable federal or state law.

All diverse candidates are encouraged to apply.

Additional Information

• Completing the application, including all supplemental questions, serves as your exam for this position. No additional exam is required at a test center (also referred to as a written exam).
• Your score is based on the detailed information you provide on your application and in response to the supplemental questions.
• Your score is valid for this specific posting only.
• You must provide complete and accurate information or:
  • your score may be lower than deserved.
  • you may be disqualified.
• You may only apply/test once for this posting.
• Your results will be provided via email.